St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-11-26
THE STATE OF TRADE.
The Usual Weekly Review of the
Commercial Situation.

NEW DIRK, NOV. 20.-R. U. Dun &
Co.'s weekly review of trade will say:
In all directions business prospects are
improving, although the situation no.
where justifes such speculative Wild
ness as has appeared in some branches.
Money still goes to the West, and even
more to the South, and bankers antici-
pate some pressure as the new year ap-
proaches, but the treasury has increased
its deposits with banks S1,572, 1872 during
the past week, and it has withdrawn
from the market only 100000 cash.
Plans of tariff reduction attract atten-
ton but do not seem as yet to have
affected the demand for products. EX
changes are running nearly per cent
above those of corresponding weeks last
year, and railroad earnings showing an
increase exceeding 10 per cent with
shipments from Chicago by rail of So
600 tons larger than fer the same week
last year, indicate volume of traffic
never surpassed at this season, though
reaction from the greater activity
of September causes, i'll some
branches, complaint of dizziness,
The most important fact is, that invest
ment of foreign capital in this country
still continues. The latest evidence,
bonds to a foreign syndicate, came at a
time when foreign sales of stocks APP
peared to foreshadow contrary move
ment. In October merchandise exports
amounted to $40, $50, 005, the largest De-
tOber report for five years and exceeded
imports by SIS, 1876, 067. Deducting un-
derValuati0nS, interest and other items,
the balance on merchandise account
would not be more than $1,000, 900, leav-
ing most of the net imports of specie,
which were 81 ,63S, 754, to represent the
total foreign capital brought hither. In
seven months not less than S145,000, 900
must have thus arrived from abroad,
which has gone far to support the con-
tinued development of railroads, mines
and manufacturers, and the speculation
in real estate. Nevertheless the effects
of the partial loss of crops begins to be
felt. From most quarters come
complaints that collections are slow
or only fair, and though rapid
marketing of products has brought
relief at most Southern and some West
ern points, at many others money is
close and rates high. At Boston the
danger of large mercantile reverse has
been averted. and better tone prevails.
AT Philadelphia business reaction from
past unusual activity is felt. and money
is in good supply. At Western centers
the country demand still continues and
the markets are generally close. Large
railroad earnings are met in many cases
by unWOnted increase in expenses, thus
the Pennsylvania shows a decrease in
net earnings of $3.50, $50 for October, and
the New York Central increased gross
earnings of SS32,926 for the last quarter;
but expenses increased 81, 1882, so
that the net earnings fell off 1852, 465.
Stocks closed Wednesday at about so
cents per share higher than last week,
but showed hesitation at the close, and
declined yesterday forenoon fraction.
BreadStutfs have advanced, wheat lie,
oats re, and corn rose sharply yester-
day. Pork has advanced 25c per barrel,
and lard 10c per 100 pounds, though
hogs are lower. The iron market is still
weak at Pittsburg, but shade firmer
for No. 2 at Philadelphia because of
scarcity of the best grades. A decline in
British exports to this country
from 12O,Oj5 tons in September
to 92.142 in October encourages
the trade. Cotton goods are very firm,
and some makes advance again. The
wooden trade is quiet with few new Or
ders. A break i'll provisions on WedneS-
day was followed by recovery the same
Gay. coal Is scarce ana HlgHtT, Une
strike being called the cause, although
the actual output last week was larger
in spite of the strike than that of the
same week last year. Over production
was gwen as the reason for curtailment
or stOppage by some sugar refinerieS,
but the price quickly improved, and
current statistics sustain estimates that
the worlds consumption this year will
closely approximate the supply. Bureau
estimates of the cotton crop are still dis
puted, but the market has grown
stronger in the belief that Southwest
ern forest fires will delay shipment.
The business failures occurring through
out the country during the last seven
days, as reported to r. G. Dun & Co.'S
mercantile agency to-day, Friday, by
telegraph number for the United
States iS7, for Canada 90, or a total of
2O7 as compared with 224 last week and
2l1 the week previous to the last. The
figures for the corresponding week of
1886 was PIC. made up of 1S9 failures in
the limited States and q in Canada